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ETH/USD: Long Term Breakout Analysis 1W (Aug. 17)X Force Global Analysis: If you find our analyses to be helpful, make sure to support us by dropping a ‘like’ Ethereum has been leading this bullish cryptocurrency rally of 2020. In this analysis, we assess Ethereum's weekly chart in order to determine potentiality of its long term growth. Analysis - To begin with, there has been a strong zone of resistance between $365 and $400, marked by the orange bar - We have seen prices test, and get rejected by this territory numerous times throughout history. - The last time we saw a break and close above this resistance zone was in November 2017, which led to a massive bullish rally - As demonstrated above, this is the first time in almost 3 years since we have broken out of the strong resistance zone - It's also important to note that we have broken through significant descending trend line resistances, marked by the dotted white lines What We Believe As we have seen the weekly candle break and close above significant resistance zones, we believe that a corrective or bearish trend leading prices back down sub $350 is highly improbable. The weekly chart demonstrates clear upside for a long term bullish trend. Let us know what you think in the comment section below Trade Safe.
COINBASE:ETHUSDLong
by XForceGlobal
8
ETHUSD Update: Profit=22850 SL=7050 Reward/Risk > 3.2:1 Trade Setup summary: Profit targets=22850 pip (3270 + 6970 + 12610) Stop Loss =7050 pip Reward/Risk > 3.2: 1 Current Status: Total Profit: 42250 pip Closed trade(s): 13150 pip Profit Open trade(s): 29100 pip Profit Trade Setup: We opened 5 BUY trade(s) @ 339.00 based on 'previous Forecast' at 2020.08.02 : Closed Profit: TP1 @ 393.00 touched at 2020.08.03 with 5400 pip Profit. TP2 @ 416.50 touched at 2020.08.13 with 7750 pip Profit. 5400 + 7750 = 13150 Open Profit: Profit for one trade is 436.00(current price) - 339.00(open price) = 9700 pip 3 trade(s) still open, therefore total profit for open trade(s) is 9700 x 3 = 29100 pip Technical analysis: . ETHUSD is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 70. New Trading suggestion: . There is still a possibility of temporary retracement to suggested support line (416.50) again. if so, traders can set orders based on Price Action and expect to reach short-term targets. New Take Profits: TP3= @ 449.20 TP4= @ 486.20 TP5= @ 542.60 SL= Break below 393.00 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
BITSTAMP:ETHUSDLong
by ForecastCity
10
ETHUSD Update: Profit=22850 SL=7050 Reward/Risk > 3.2:1 Trade Setup summary: Profit targets=22850 pip (3270 + 6970 + 12610) Stop Loss =7050 pip Reward/Risk > 3.2: 1 Current Status: Total Profit: 42250 pip Closed trade(s): 13150 pip Profit Open trade(s): 29100 pip Profit Trade Setup: We opened 5 BUY trade(s) @ 339.00 based on 'previous Forecast' at 2020.08.02 : Closed Profit: TP1 @ 393.00 touched at 2020.08.03 with 5400 pip Profit. TP2 @ 416.50 touched at 2020.08.13 with 7750 pip Profit. 5400 + 7750 = 13150 Open Profit: Profit for one trade is 436.00(current price) - 339.00(open price) = 9700 pip 3 trade(s) still open, therefore total profit for open trade(s) is 9700 x 3 = 29100 pip Technical analysis: . ETHUSD is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 70. New Trading suggestion: . There is still a possibility of temporary retracement to suggested support line (416.50) again. if so, traders can set orders based on Price Action and expect to reach short-term targets. New Take Profits: TP3= @ 449.20 TP4= @ 486.20 TP5= @ 542.60 SL= Break below 393.00 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
BITSTAMP:ETHUSDLong
by ForecastCity
24
ETH/USDT: Pullback Probability Analysis 1W (Aug. 08)X Force Global Analysis: If you find our analyses to be helpful, make sure to support us by dropping a ‘like’ In this post, we analyse Ethereum's weekly chart, and its probabilities of a correction in the form of a pullback. Analysis - To begin with, Ethereum has broken out of two major descending trend line resistances, marked in orange - Despite the parabolic run over the past few weeks, however, Ethereum hasn't had a real correction take place - Candlesticks show a long upper wick, indicating signs of strong resistance around the 0.382 Fibonacci retracement resistance - The Relative Strength Index (RSI) is at overbought territories, at the same level as in Jan. 2018. - The Moving Average Convergence Divergence (MACD) however, shows good signs of momentum for the bullish trend - The Stochastic Oscillator is also at overbought territories, having formed a death cross - There is strong historical support around 355 USDT and 310 USDT - Even a drastic correction below 300 USDT, down to the 0.236 Fibonacci support would be considered bullish over the long run - Prices would still be trading above the Exponential Moving Average (EMA) Ribbon, and Ichimoku Cloud What We Believe We believe that Ethereum is extremely overbought, and is due for a correction in the form of a pullback. What may appear as dramatic corrections in the short term will most likely not hider with the long term bullish case, as unsustainable trends mostly come to an end. Let us know what you think in the comment section below Trade Safe.
by XForceGlobal
4
ETH/USDT: Signs of Topping Out 1D (Aug. 08)X Force Global Analysis: If you find our analyses to be helpful, make sure to support us by dropping a ‘like’ In this analysis, we take an unbiased stance on Ethereum's Tether pair (USDT), assessing its bullish and bearish probabilities on its daily chart. Analysis - To begin with, we can count Elliott Waves for the current uptrend leading up to its local top - Counting Elliott Impulse Waves (!2345), we can see that the impulse waves have all already played out - Considering that the degree of the trend is 70 degrees, a corrective wave count is highly probable, as such steepness in trend is unsustainable - Based on fibonacci retracements, we could expect a corrective wave to take place down to the 0.382 Fibonacci support - One thing to notice is that the 0.382 Fibonacci support converges with the Ichimoku cloud at a certain point - This indicates that even a correction leading down to 340 USDT would still validate the overall bullish trend - The envelope indicator demonstrates that prices are way overextended above the original trend, and is due for a correction - Technical indicators all point to a similar direction - The Relative Strength Index (RSI) is at overbought levels, having created lower highs and lower lows - The Moving Average Convergence Divergence (MACD) shows decreasing bullish histograms with a potential death cross in play - The Stochastic Oscillator has formed a death cross at overbought territories What We Believe While Ethereum may be looking to retest and form a lower high in the shorter term charts, technicals on the daily chart demonstrate strong signs of the altcoin being overbought, and overextended above a sustainable level of trend. As such, any insignificant breakouts we may see on the shorter time frames could be interpreted as an attempt by bears providing liquidity in the market, and seeking opportunities to maximize their positions at optimum levels. Let us know what you think in the comment section below Trade Safe.
Short
by XForceGlobal
2
ETH/USDT: Hidden Bullish Divergence Analysis 1H (Aug. 08)X Force Global Analysis: If you find our analyses to be helpful, make sure to support us by dropping a ‘like’ In this post ,we analyze Ethereum's 4 hour chart, assessing its short term bullish probabilities. Analysis - To begin with, Ethereum (ETH) has been consolidating within a bullish pennant pattern - Prices have been creating lower highs and higher lows - While bears have attempted to break the structure, bulls have managed to secure significant trend line support - There is a hidden bullish divergence in play, with higher lows on the price, and lower lows on the indicator - The Relative Strength Index (RSI) is at neutral zones, showing potentiality for a breakout - The Moving Average Convergence Divergence (MACD) has shown increasing bearish histograms, leading to a potential golden cross - The Stochastic Oscillator has recently formed a golden cross at neutral levels as well - The Simple Moving Averages (SMAs) are all aligned in the order of: 20, 50, and 100 SMA - Prices have tested the lower bollinger band support - Prices have managed to bounce on the Ichimoku cloud support - For Ethereum to retest its new lower high, it must first break and close above the 0.618 Fibonacci resistance, providing confirmation What We Believe We believe that Ethereum's short term technicals demonstrate room for a small breakout, that could lead to a formation of a new lower high. For a continuation of the rally, ETH would have to break and close above the bullish pennant structure. Let us know what you think in the comment section below Trade Safe.
by XForceGlobal
ETHUSD Update: Profit=32250 SL=11600 Reward/Risk > 2.8:1 Trade Setup summary: Profit targets=32250 pip (2350 + 5620 + 9320 + 14960) Stop Loss =11600 pip Reward/Risk > 2.8 : 1 Current Status: Total Profit: 29400 pip Closed trade(s): 5400 pip Profit Open trade(s): 24000 pip Profit Trade Setup: We opened 5 BUY trade(s) @ 339.00 based on 'previous Forecast' at 2020.08.02 : Closed Profit: TP1 @ 393.00 touched at 2020.08.03 with 5400 pip Profit. Open Profit: Profit for one trade is 399.00(current price) - 339.00(open price) = 6000 pip 4 trade(s) still open, therefore total profit for open trade(s) is 6000 x 4 = 24000 pip Technical analysis: . ETHUSD is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 61. New Trading suggestion: . There is still a possibility of temporary retracement to suggested Uptrend and price reject from uptrend. if so, traders can set orders based on Price Action and expect to reach short-term targets. New Take Profits: TP2= @ 416.50 TP3= @ 449.20 TP4= @ 486.20 TP5= @ 542.60 SL: Break Below Uptrend ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
BITSTAMP:ETHUSDLong
by ForecastCity
16
ETHUSD Update: Profit=32250 SL=11600 Reward/Risk > 2.8:1 Trade Setup summary: Profit targets=32250 pip (2350 + 5620 + 9320 + 14960) Stop Loss =11600 pip Reward/Risk > 2.8 : 1 Current Status: Total Profit: 29400 pip Closed trade(s): 5400 pip Profit Open trade(s): 24000 pip Profit Trade Setup: We opened 5 BUY trade(s) @ 339.00 based on 'previous Forecast' at 2020.08.02 : Closed Profit: TP1 @ 393.00 touched at 2020.08.03 with 5400 pip Profit. Open Profit: Profit for one trade is 399.00(current price) - 339.00(open price) = 6000 pip 4 trade(s) still open, therefore total profit for open trade(s) is 6000 x 4 = 24000 pip Technical analysis: . ETHUSD is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 61. New Trading suggestion: . There is still a possibility of temporary retracement to suggested Uptrend and price reject from uptrend. if so, traders can set orders based on Price Action and expect to reach short-term targets. New Take Profits: TP2= @ 416.50 TP3= @ 449.20 TP4= @ 486.20 TP5= @ 542.60 SL: Break Below Uptrend ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
BITSTAMP:ETHUSDLong
by ForecastCity
18
ETH/USDT: Extremely Bullish with One Major Problem 4H (Aug.02)X Force Global Analysis: If you find our analyses to be helpful, make sure to support us by dropping a ‘like’ In this analysis, we explore Ethereum's 4 hour chart to assess the bullish and bearish evidence for the next probable move. Analysis - To begin with, Ethereum has been on a very steep uptrend, trading within an ascending parallel channel for days - The Simple Moving Averages (SMA) are all aligned in order: 20, 50, 100, and 200 SMA on the 4H - Prices are trading way above the Moving Averages as signs of strong support for the bullish trend - The Ichomku cloud is also located below current prices, indicating a clear bullish rally and strong support - While the Relative Strength Index (RSI) is at overbought zones, we can see that we have previously seen Ethereum being at an overbought state, yet having continued to rally - Similarly, the Moving Average Convergence Divergence (MACD) shows strong bullish histograms as a sign of momentum - The fact that prices have broken out of the ascending parallel channel indicates strong bullishness - However, what is concerning is the fact that such steep trends are unsustainable What We Believe While the trend and technical evidence suggest that Ethereum is clearly very bullish, its currently steep trend is extremely unsustainable. Thus, should a correction play out, we could expect strong support around 350 USDT where the 20 SMA and channel support converge. Let us know what you think in the comment section below Trade Safe.
Long
by XForceGlobal
2
Anybody Else Watching The 2-Month ETH Trend?Ethereum continues to rise and snap resistance levels as if they never even existed! Let's zoom out and look at the overall trend of how ethereum is performing. Notice that price on the 2 month chart shifted to go green around may of 2020... BTC halvening. Tight price compression as we accumulated and continued to hold support. Now we have transitioned and brokeout with strong green movement. All time highs in crypto will become Irrelevant. Don't miss the cycle!
KRAKEN:ETHUSD
by UnknownUnicorn2319099
7
ETHUSD Update: Profit=46750 SL=15500 Reward/Risk > 3:1 Trade Setup summary: Profit targets=46750 pip (2900 + 5250 + 8520 + 12220 + 17860) Stop Loss =15500 pip Reward/Risk > 3 : 1 Current Status: Total Profit: 13929 pip Closed trade(s): 13929 pip Profit Open trade(s): 0 pip Profit Trade Setup: We opened 5 BUY trade(s) @ 229.34 based on 'previous Forecast' at 2020.07.06 : Closed Profit: TP1 @ 237.34 touched at 2020.07.20 with 800 pip Profit. TP2 @ 244.77 touched at 2020.07.21 with 1543 pip Profit. TP3 @ 244.77 touched at 2020.07.22 with 2405 pip Profit. TP4 @ 263.70 touched at 2020.07.22 with 3436 pip Profit. TP5 @ 286.79 touched at 2020.07.24 with 72 pip Profit. 800 + 1543 + 2405 + 3436 + 5745 = 13929 Technical analysis: . ETHUSD is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 83. New Trading suggestion: . There is still a possibility of temporary retracement to suggested uptrend. if so, traders can set orders based on Price Action and expect to reach short-term targets. New Take Profits: TP1= @ 393.00 TP2= @ 416.50 TP3= @ 449.20 TP4= @ 486.20 TP5= @ 542.60 SL= Break below 333.00 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
BITSTAMP:ETHUSDLong
by ForecastCity
18
ETHUSD Update: Profit=46750 SL=15500 Reward/Risk > 3:1 Trade Setup summary: Profit targets=46750 pip (2900 + 5250 + 8520 + 12220 + 17860) Stop Loss =15500 pip Reward/Risk > 3 : 1 Current Status: Total Profit: 13929 pip Closed trade(s): 13929 pip Profit Open trade(s): 0 pip Profit Trade Setup: We opened 5 BUY trade(s) @ 229.34 based on 'previous Forecast' at 2020.07.06 : Closed Profit: TP1 @ 237.34 touched at 2020.07.20 with 800 pip Profit. TP2 @ 244.77 touched at 2020.07.21 with 1543 pip Profit. TP3 @ 244.77 touched at 2020.07.22 with 2405 pip Profit. TP4 @ 263.70 touched at 2020.07.22 with 3436 pip Profit. TP5 @ 286.79 touched at 2020.07.24 with 72 pip Profit. 800 + 1543 + 2405 + 3436 + 5745 = 13929 Technical analysis: . ETHUSD is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 83. New Trading suggestion: . There is still a possibility of temporary retracement to suggested uptrend. if so, traders can set orders based on Price Action and expect to reach short-term targets. New Take Profits: TP1= @ 393.00 TP2= @ 416.50 TP3= @ 449.20 TP4= @ 486.20 TP5= @ 542.60 SL= Break below 333.00 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
BITSTAMP:ETHUSDLong
by ForecastCity
25
Ethereum has crossed up the long term resistance levelsHi, friends hope you are well and welcome to the new update on Ethereum coin. As we have already seen that on the long-term weekly chart the Ethereum was moving in a descending triangle and now finally the price action has crossed up the resistance of this triangle. The current weekly candlestick was started on 27 July. Once the candlestick will be completely closed above this resistance then we will be confirmed that finally the price action has broken out the resistance successfully. And if we watch the different indicators then Moving average convergence divergence (MACD) indicator was turning bearish but now it is turned strong bullish. The stochastic gave bear cross after entering in the overbought zone and finally we also have received a bullish signals by the stochastic as well. In the meanwhile the momentum indicator was ignoring the bearish signals of MACD and stochastic and it was continuously bullish. Finally the stochastic and MACD followed the bullish signals of momentum and again turned bullish. The channel has been broken out: On the daily chart the priceline of Ethereum was moving in an up channel and finally it has successfully broken out the resistance of the channel. I've also placed the moon phases indicator on this chart and can be easily noticed that the new full moon is appeared at high altitude above the resistance. That was clear indication that the price action can move up to this level. The new dark moon was appeared below the support but it was higher than the previous dark moon that was another bullish indication. If we watch the MACD indicator then it was strong bullish but now it is turning bearish. The stochastic is also giving bear cross. But the momentum is still bullish so we can expect that now the price action might re-test the previous resistance of the channel as a support and from there it will start the next rally. Support and resistance levels: If we take a look at the 4 day chart then different support and resistance levels can be easily seen. In the month of March 2020 the price action has the support at $115 and from there it started the bullish move and broke out the next resistance of $150. Then price action broke out the $225 resistance and re-tested the previous resistance as support. Now price action is breaking out the $280 resistance and a strong resistance block that starts from $310 and ends at $325. This is very strong resistance block that is not broken out since September 2018. Once the price action will be able to break out this resistance block then we will have the next resistance at $310. The SMAs have formed opened alligator mouth: If we watch the different simple moving averages on the daily chart with the time period of 25 50 100 and 200. Then it can be easily observed that the price action was re-testing the 25 and 50 simple moving averages as support. And after successful re-test it has started the next bullish rally. In the meanwhile the 25 simple moving average was and moving sideways with 50 simple moving average and crossed 50SMA little bit down. Now it is also moving up and now a complete opened alligator mouth is formed by the simple moving averages because we have the smallest time period moving average 25 above all then we have 50 then 100 and then 200 below all other SMAs. Now the simple moving averages can lift the priceline of Ethereum in a parabolic way. The bearish cloud is broken out: If we again switch to the long term weekly chart and place the Ichimoku cloud. Then we can see that the lagging span of Ichimoku cloud has crossed up to priceline and the cloud as well. We have received a powerful bull cross by the conversion and the baseline just below the price action of Ethereum. Now the candlestick has crossed up the bearish cloud as well. Once we will have a complete closing of this candlestick above Ichimoku bearish cloud then we will be confirmed that the price line of Ethereum has broken out this strong resistance of cloud successfully. We can also observe that the Ichimoku cloud has also turned bullish. After this big breakout a new era of bull run will be started that can continue for years. Because before this breakout we have already seen that this cloud was working as a strong resistance and once this resistance will be broken out then it will be working as a strong support. Conclusion: Even though all signals and patterns are bullish but there is also a possibility that while re-testing the previous resistance levels as support the price action can move down in case the re-testing will be failed. If it would be happened then the price action can re-entered the channel that was formed on daily chart. Therefore we should use the support of the previous channel as stop loss.
COINBASE:ETHUSDLong
by moon333
1
ETH/USDT: Daily Breakout Target Analysis 1D (Jul. 27)X Force Global Analysis: If you find our analyses to be helpful, make sure to support us by dropping a ‘like’ In this analysis, we take a look at Ethereum's daily chart, exploring potential zones of interest based on breakout patterns and fibonacci retracement levels. Analysis - We can first spot an ascending triangle's breakout pattern in play - Counting Elliott Waves, we have seen an Elliott Impulse Wave (12345), leading to an ascending triangle pattern - Within an ascending triangle pattern, we have seen an Elliott Triangle Wave (ABCDE) pattern, leading to a breakout - While this breakout led to an extremely bullish price movement, and Ethereum broke the 2.618 Fibonacci retracement resistance - Based on the breakout pattern, we could see a potential rally leading to the 3.618 Fibonacci resistance levels. - The Relative Strength Index (RSI) is, however, at oversold territories, reaching its previous high level - The Moving Average Convergence Divergence (MACD) continues to show increasing bullish histograms as a sign of momentum in the bullish trend. What We Believe Based on technicals demonstrated on the daily chart, while Ethereum's rally has been extremely rapid, there is still more upside to the 3.618 Fibonacci resistance zones where the breakout pattern could be completed. Let us know what you think in the comment section below Trade Safe.
Long
by XForceGlobal
2
ETH/USDT: The Only Chart You Will Ever Need 1H (Jul.25)X Force Global Analysis: If you find our analyses to be helpful, make sure to support us by dropping a ‘like’ In this analysis, we explore Ethereum's hourly chart on its Tether (USDT) pair. We recommend that traders approach this setup from the perspective of the volatility breakout strategy, popularized by the legendary trader Larry Williams. Analysis - The first thing we can spot is that Ethereum has been in a steady yet steep uptrend within an ascending parallel channel - Prices continue to form higher highs and lower highs, as the Exponential Moving Average (EMA) Ribbon acts as strong support below price levels - We can also spot the Ichimoku cloud acting as strong support for the current trend What We Believe Given such strong indicators of support, it's important that traders look for opportunities in short term uptrends, and sell when Ethereum starts losing momentum, or provides confirmation of a bearish trend by breaking and closing below the three significant indicators of support mentioned above. Let us know what you think in the comment section below Trade Safe.
Long
by XForceGlobal
2
ETHER BULL MARKET IS HEREA simple analysis of the RSI shows that when the downwards pressure from the RSI is broken and support is built upon it, we are in a bull market. It appears this was supposed to happen earlier but COVID sent all markets down the drain. Now we see the downwards pressure being broken followed by some consolidation on the line. We are now breaking this line and on the way up. Expect some time consolidating sideways between $300 and $350 before the big rally begins. Regards
KRAKEN:ETHUSDLong
by ceesounds
1
You will never regret to buy Ethereum after this moveHey guys and gals hope you are doing well and welcome to the new update on Ethereum coin. We have already seen in my previous article that the Ethereum coin is moving in a very big descending triangle. Previously when the price action was reached at the resistance the MACD was turning bearish and Stochastic also give bear cross but the momentum indicator was ignoring these bearish signals and eventually the MACD and Stochastic both turned bullish again. Now the price action is trying to break out the resistance. All indicators are signaling to breakout the channel: On the daily chart the price action is moving in an up channel. And if we watch the Moon phases indicator then new full moon is a appeared at the high distance above the resistance of the channel signaling to the breakout soon. If we watch that moving average convergence divergence (MACD) stochastic and Momentum indicators then we can notice that all these indicators are turned strong bullish. Priceline is attempting to breakout next resistance: Now if we switch to the two day chart to watch the different support and resistance levels. Then previously the price line was retesting the support of $225. Now it is trying to breakout the next resistance at $280 if this resistance will be broken out then we have the next resistance at $310. Now I would like to draw your attention towards a very powerful bullish move by the price line of Etherum and that can be seen after placing the Ichimoku cloud indicator on the long term weekly chart. It can be easily seen that the lagging span of Ichimoku cloud has crossed up the price action and at this time it is trying to cross up the bearish cloud as well. The conversion line and the baseline have formed bull cross just below the price action and finally the candlesticks are breaking out the bearish cloud. This cloud was never broken out since after July 2018 when the price action broke down this cloud. Once it will be broken out then it will become a very strong support for the long term bullish rally as it has been working as a strong resistance for the price line. And after this break out you will never regret to buy this coin. Conclusion: Even though the priceline of Ethereum is almost out of the bearish cloud but so far there is not a single candlestick that has been completely opened and closed above this cloud. Therefore we need a complete opening and closing of the candlestick above the cloud then we can consider that it has been completely broken out. The price action is also trying to break out the $280 if it will be failed in breaking out this strong resistance then we can see the price line retesting the previous support of $225 again.
COINBASE:ETHUSDLong
by moon333
6